Petrofac Consortium Wins $3.7B Abu Dhabi Deal
A Petrofac-led consortium has been awarded a $3.7-billion contract to supply the Upper Zakum, UZ750 field development in Abu Dhabi.
The contract was awarded by Zakum Development Company (an Abu Dhabi National Oil Company subsidiary). It has been secured by a consortium including Petrofac Emirates (Petrofac's joint venture with Mubadala Petroleum) and Daewoo Shipbuilding & Marine Engineering Company. Petrofac Emirates' share of the contract is valued at $2.9 billion.
Petrofac said the project comprises engineering, procurement, construction transportation and commissioning of island surface facilities on four artificial islands. Specifically, this will include wellhead control, manifolds, crude oil process facilities, water injection and gas lift, oil export pumps, power generation and associated utilities. These facilities are scheduled to commence operations during 2016.
Subramanian Sarma, managing director of Petrofac's Onshore Engineering & Construction business, commented in a company statement:
"I am delighted that Petrofac has been selected to deliver this landmark project for the Upper Zakum development in Abu Dhabi. Through Petrofac Emirates we continue to show our commitment to supporting the oil & gas industry in Abu Dhabi and this project builds on the substantial work we have underway in the UAE. We look forward to developing our relationship with ZADCO through the successful delivery of this strategically important project."
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